General Motors Files For Public Offering

In this handout image provided by General Motors, The first pre-production Chevrolet Volt is on the assembly line at the Detroit-Hamtramck manufacturing plant March 31, 2010 in Detroit, Michigan.
(John F. Martin/General Motors (via Getty Images))

On Wednesday, General Motors filed for a public stock offering that would enable the federal government to start selling its stake in GM. Currently, the federal government holds 61 percent of the car company. A year ago, the car-making giant was looking at bankruptcy... in the second quarter of this year, they announced a $1.3 billion proffit. Has the government succesfully turned GM around?

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The government will gradually sell down their stake…it’s looking like they could come close to getting back most of that [bailout] money.